to me daytrading feels like gambling. i'll stick to blackjack - i like my odds better.

i feel the opposite. i hate playing against the house. the odds are stacked against you. at least when you are playing against other market participants, it's more so a test of skill. like 60% skill, 40% luck or something.....

This is what I thought due to how it fluctuates, but a lot of people argue otherwise based on the data gathered from historical prices. I still think it's just coincidence that things match up the way they do though.

This is what I thought due to how it fluctuates, but a lot of people argue otherwise based on the data gathered from historical prices. I still think it's just coincidence that things match up the way they do though.

what would you expect, though? like any other investment vehicle/speculative asset, it is traded on a market. that comes with fundamentals, technicals, sentiment, etc, just like any other asset. sure, i think bitcoin is more or a less a new asset class, but that doesn't mean it isn't subject to the same market dynamics as all other instruments traded on markets. and there are plenty of extremely volatile instruments out there.

This is what I thought due to how it fluctuates, but a lot of people argue otherwise based on the data gathered from historical prices. I still think it's just coincidence that things match up the way they do though.

what would you expect, though? like any other investment vehicle/speculative asset, it is traded on a market. that comes with fundamentals, technicals, sentiment, etc, just like any other asset. sure, i think bitcoin is more or a less a new asset class, but that doesn't mean it isn't subject to the same market dynamics as all other instruments traded on markets. and there are plenty of extremely volatile instruments out there.

Wouldn't you think that the regulated vs unregulated market would have an effect though? We're basically in the wild west here.

This is what I thought due to how it fluctuates, but a lot of people argue otherwise based on the data gathered from historical prices. I still think it's just coincidence that things match up the way they do though.

what would you expect, though? like any other investment vehicle/speculative asset, it is traded on a market. that comes with fundamentals, technicals, sentiment, etc, just like any other asset. sure, i think bitcoin is more or a less a new asset class, but that doesn't mean it isn't subject to the same market dynamics as all other instruments traded on markets. and there are plenty of extremely volatile instruments out there.

Wouldn't you think that the regulated vs unregulated market would have an effect though? We're basically in the wild west here.

Regulation doesn't change anything in that respect. People still have the same reactions to the gain and loss of money. It's precisely that psychology that makes TA work for any speculative asset.

This is what I thought due to how it fluctuates, but a lot of people argue otherwise based on the data gathered from historical prices. I still think it's just coincidence that things match up the way they do though.

what would you expect, though? like any other investment vehicle/speculative asset, it is traded on a market. that comes with fundamentals, technicals, sentiment, etc, just like any other asset. sure, i think bitcoin is more or a less a new asset class, but that doesn't mean it isn't subject to the same market dynamics as all other instruments traded on markets. and there are plenty of extremely volatile instruments out there.

Wouldn't you think that the regulated vs unregulated market would have an effect though? We're basically in the wild west here.

Regulation doesn't change anything in that respect. People still have the same reactions to the gain and loss of money. It's precisely that psychology that makes TA work for any speculative asset.

I was thinking along the lines of market manipulation. For example, we hear the news about China and Bitcoin drops like a rock. They legalize it and it shoots up. This went on for a while, over and over. We wouldn't be experiencing the same thing in the stock market.

This is what I thought due to how it fluctuates, but a lot of people argue otherwise based on the data gathered from historical prices. I still think it's just coincidence that things match up the way they do though.

what would you expect, though? like any other investment vehicle/speculative asset, it is traded on a market. that comes with fundamentals, technicals, sentiment, etc, just like any other asset. sure, i think bitcoin is more or a less a new asset class, but that doesn't mean it isn't subject to the same market dynamics as all other instruments traded on markets. and there are plenty of extremely volatile instruments out there.

Wouldn't you think that the regulated vs unregulated market would have an effect though? We're basically in the wild west here.

Regulation doesn't change anything in that respect. People still have the same reactions to the gain and loss of money. It's precisely that psychology that makes TA work for any speculative asset.

I was thinking along the lines of market manipulation. For example, we hear the news about China and Bitcoin drops like a rock. They legalize it and it shoots up. This went on for a while, over and over. We wouldn't be experiencing the same thing in the stock market.

We wouldn't be Goxxed in the stock market either.

we could experience similar things. what happens to the stock of a biotech company when the FDA rejects their wonder drug on trial? or vice versa -- gives the green light to a groundbreaking drug. similar effects are seen there, methinks.

I'm pretty much just starting to grasp TA myself, but I can really recommend following people on tradingview and trying to replicate their charts.I learn by seeing and doing, so applying the TA of others and seeing the results help a lot.

I'm pretty much just starting to grasp TA myself, but I can really recommend following people on tradingview and trying to replicate their charts.I learn by seeing and doing, so applying the TA of others and seeing the results help a lot.

yes, this can help. however, be careful not to go blindly on the TA of others. it is very easy to miss a projection, and then it is up to you to adapt to the market. i think some people look at another person's chart, thinks "that's plausible", then when a prediction or formation gets invalidated, they don't realize it.

I'm pretty much just starting to grasp TA myself, but I can really recommend following people on tradingview and trying to replicate their charts.I learn by seeing and doing, so applying the TA of others and seeing the results help a lot.

yes, this can help. however, be careful not to go blindly on the TA of others. it is very easy to miss a projection, and then it is up to you to adapt to the market. i think some people look at another person's chart, thinks "that's plausible", then when a prediction or formation gets invalidated, they don't realize it.

Yeah, absolutely. I find my self both agreeing and disagreeing with people I follow, which is good. That means I'm thinking logically and going deeper into the meaning of their analysis. If I was just looking at a bullish scenario and applying my emotions to it, believing that it sounds plausible because I want it to go up, that would be very bad and could lead me to lose it all.

I've learned that you have to be willing to adapt to changes when you see them. My first chart had a channel leading up to $621.. then we broke out of it. I really had to trust in my ability to understand what was going on then and change my strategy.